The study sought among other things to examine the detailed map of Ghana’s cocoa value chain (GCVC), the major constraints and opportunities to growth and expansion of GCVC, and proposes strategies to at least mitigate the identified constraints. Questionnaires were used to collect primary data from respondents, mainly smallholder farmers and also historical data of Ghana’s cocoa industry were used extensively in the analysis. Diamond model was used to determine the relative competitive position of Ghana’s cocoa. The study revealed the existence of some actors along the value chain not fully recognized by industry players in the cocoa supply chain. It also revealed that lack of access to working capital and farm inputs, aging farmers, high illiteracy rate are the major constraints facing the smallholder farmers. It was again noted that lack of access roads to farming communities, delayed payments and long waiting of trucks at the port due to off load for shipment are major constraints of the Licensed Buying Companies (LBCs)